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What is joint venture

Explain the term joint venture?

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Joint ventures refers to the partnerships where two or more firms perform the specific project or corporate within the selected area of the business. Joint ventures may be temporary or long term. Ownership of firm stays unaffected. Each joint venture has the scheduled life-cycle that will end sooner or later. Each joint venture has to be dissolved whenever it has outlived its life-cycle. Modifications within the environment, forces the joint ventures which is to be redeveloped on the regular basis.

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